The Financial Post reports in its Friday, April 17, edition that artificial intelligence-driven tools helped CIBC save 1.2 million hours of work in its first quarter and cut mortgage approval times at Toronto-Dominion Bank, say the lenders' chief executive officers. The Post's Naimul Karim writes that CIBC CEO Harry Culham says AI enhances fraud detection and credit monitoring, making these processes faster and more effective. The time saved has allowed the bank to look for other opportunities to grow. TD CEO Raymond Chun says using AI has cut reviews of its mortgage approval process down to minutes from hours and it is also getting auto-loan decisions to clients within seconds. Mr. Chun says, "AI offers powerful advantages, but its progress and oversight must be thoughtful and human-led." Canada's Big Six banks are looking for ways to increase their use of AI to boost productivity and earnings. None of the executives so far have spoken about Anthropic PBC's latest AI release that has put the financial world on its toes. Anthropic has developed a powerful general-purpose AI model called Mythos that excels at uncovering and exploiting software vulnerabilities.